Changes apply to mortgages at 80 to 95 per cent loan to value (LTV).  

Across purchase products, this includes the two-year fixed at 85 per cent LTV with a £999 fee. This has been reduced by 0.10 per cent to 1.39 per cent.  

Receiving the same reduction, the fee-free two-year fixed deals at both 90 and 95 per cent LTV now have rates of 1.99 per cent and 2.79 per cent respectively.  

The five-year fixed rate product at 80 per cent LTV with no fee has been cut from 1.99 per cent to 1.89 per cent, while the £999 fee paying alternative has been reduced from 1.74 per cent to 1.69 per cent. 

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HSBC’s two-year fixed remortgage at 80 per cent LTV with a £999 fee has been cut by 0.15 per cent to 1.39 per cent. The equivalent at 85 per cent LTV has been reduced to 1.99 per cent from 2.09 per cent.  

Michelle Andrews, HSBC UK’s head of buying a home, said: “These changes really put a focus on higher LTV customers, with our new lower rates available to those looking to purchase, remortgage or switch rates.  

“By cutting the cost of borrowing on over 30 mortgages at 80 per cent LTV and higher, across two and five-year fixed rate deals, we are offering some of the lowest rates currently available, whether coming to us via a broker, or direct.”